Alpha Medical is considering adding new production equipment to make face masks for the next four years. The initial capital investment is expected to be $870,000 and the equipment falls in the CCA class that has a CCA rate of 25% for depreciation purposes. The equipment will have a a salvage value of $67,000 in four years.

Alpha expected to have sales of $ 1090,000 per year for the next four years. Project costs are 55% of the sales. The project also requires an increase of net working capital by $ 37000 at the start, and this will be recovered at the end of the project. Assume a tax rate of 33 percent. If Alpha Medical requires a 12 percent return, what is the NPV of this project?